Because Nothing Says "Best Execution" Like Dumping $1.5 Billion In Gold Futures At 0030ET
For the 5th day in a row, "someone" has decided that 0030ET would be an appropriate time (assuming the 'seller' is an investor who prefers best execution rather than the standard non-economically-rational share-repurchaser in America) to be dumping large amounts of precious metals positions via the futures market. Tonight, with over 13,000 contracts being flushed through Gold - amounting to over $1.5 billion notional, gold prices tumbled $20 to $1151 (its lowest level since April 2010). Silver is well through $16 and back at Feb 2010 lows. The USDollar is also surging.
The timing of the dump is right as Japanese trading breaks for lunch
Gold dumped...
![](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_sOGyLeZn5tsg53jCnvy3A-U3p7DBzEiWFjjTL725krsEq3Q0FLkB3XZ8r0yBm1hR9NnT3D-ltPSUbvf0047-TpIZPPJhU-dbp8dvKlPRJ4QZ3kzZnydVgWqlDEKXEN68ji2JyHqGVdVbHopVFmUCTrJoI4IJUXwkA9Po_aivVuHbVu_OIt=s0-d)
and silver too..
![](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_uY56krH-nqdV4AEW5gItNT_IcyWPofwmeR5k-5Gez80CyZ80Gu1y7MsGbccXkmOBLK67cKzbMx4xvcKx0ZIxCpA88VxPL4qVObS1XMbh_L_mu5ZrsRD0jXK2OCMu4dXdsIShzrOcbKNZjRPxodf_MX7MdcHlHVa5PD8dYZ_X0R-Cb3T1hX=s0-d)
As The USD pushes higher.
![](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_sp-5nhg3RLUoP17pnXgK6l8dJkty5F6qPhKvsJQ8VRQE7ovDye4MHyfwRZBtV5ZNPsuNlRj9-F9Vv54zIm_iKejpIyhqhylDpElvp1t5dM1B9sDkGkABHC_vw-pqeY1vvOWujavhJ-9ZMYd14gde0Db5UnAgwfXsJSPOrmA7ZT71pPqE16=s0-d)
* * *
One more random thing... the oddly spurious correlation between gold prices and Japanese bank VaR proxies is back again
![](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_t7G0vRoh4z2bVhkxPEq9GrG7N4KkZbB9LANBf4z1pUh36JD0pnDC51etN_m2vGvjwNblBezWl9M_wfh_huICC6fDA9TgQsCG9PugKw6bLb68WRS7pv-6jdHU1vUU-YDvjuA3T06STCaw0cdZh-_Wp6LhP32-qnm1bGZbCrqDRp1syNmuU6rUjSXHUnrAk=s0-d)
The timing of the dump is right as Japanese trading breaks for lunch
Gold dumped...
and silver too..
As The USD pushes higher.
* * *
One more random thing... the oddly spurious correlation between gold prices and Japanese bank VaR proxies is back again
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Because Nothing Says 'Best Execution' Like Dumping $1.5 Billion In Gold Futures At 0030ET | Zero Hedge
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